After pleading guilty to 84 counts of involuntary manslaughter and another count of starting a deadly fire in Paradise, CA in 2018, the sentencing of Pacific Gas and Electric Co. (PG&E) on Thursday was anticlimactic, with the court only imposing a fine of about $3.4 million. A restitution hearing is scheduled for early next year.
Articles from inside
Permian Natural Gas Closer to More Mexico Outlets as Mirage Secures Financing
Mirage Energy Corp. has signed a $4 billion debt facility with the family office of Bluebell International to develop a natural gas project that would add cross-border capacity into Mexico and connect to the planned Permian Basin-to-Gulf Coast Whistler pipeline.
Natural Gas Futures Break Even After In-Line Storage Injection
Natural gas futures traded in a narrow range of gains and losses Thursday and ultimately finished flat after traders absorbed a relatively bullish storage report that offset weather and demand uncertainty. The July Nymex contract settled at $1.638/MMBtu. August rose one-tenth of cent to $1.728.
The Offtake: LNG in Brief
A roundup of news and commentary from NGI’s LNG Insight
ACP Seeks FERC Extension; MVP’s Southgate Project Approved
The Atlantic Coast Pipeline (ACP) project has asked FERC for a two-year extension to build and place the 1.5 Bcf/d system online, citing the legal and regulatory delays it has faced.
Higher Canadian Natural Gas Prices Seen Limiting Exports to Western U.S.
Imports of Canadian natural gas supplies through the western United States were subdued in April and May amid higher prices north of the border, according to the U.S. Energy Information Administration (EIA).
U.S. Drops Three Natural Gas Rigs as Upstream Activity Continues Search for Bottom
The U.S. natural gas rig count fell three units to 75 as upstream activity continued on its recent downward trajectory during the week ending Friday, the latest Baker Hughes Co. (BKR) data show.
Continental Bringing Back Some Curtailed Oil Production in July as Oil Prices Strengthen
After curtailing output by 70% in May in response to a pandemic-driven market downturn, Continental Resources Inc. said Thursday it would bring some production back in July, although about 50% of output is to remain offline.
COLUMN: Cenagas Sparks New Market Opportunities in Mexico Natural Gas Through Consulta Pública
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process.
July Natural Gas Futures Climb Back Into the Green on Increased Heat Outlook
After finishing flat a day earlier, Natural gas futures mustered new momentum on Friday, ending the week in positive territory as mid-range forecasts for more heat outshined persistently weak demand for liquefied natural gas (LNG) amid fallout from the coronavirus pandemic.